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On 16 November 2016 the Sejm (lower chamber of the Parliament) adopted a bill to amend the VAT Act and certain other statutory laws, calling for numerous changes in the VAT Act and the Criminal Fiscal Code, among other laws.

With 125+ locations in 50+ countries, Dentons is home to top-tier talent that is found at the intersection of geography, industry knowledge and substantive legal experience. Working with Dentons, you will have the opportunity to learn from the best lawyers in the industry at the largest law firm in the world.

Dentons is proud to congratulate our six lawyers who are listed as “Canada’s Leading Litigation Lawyers” by Lexpert, in its 2016 special edition that profiles Lexpert-ranked lawyers in several areas of business-related litigation.

Dentons Rodyk & Davidson LLP, part of the world’s largest law firm, Dentons, is pleased to announce that John Dick has joined the Firm as part of its Energy, Resources and Infrastructure practice and its South East Asia regional practice.

Federal Deposit Insurance Corporation (FDIC): Advising or acting at the request of the FDIC in connection with various insolvent financial institutions regarding their orderly wind down or sale. Conducting the investigation of potential civil claims against former officers and directors of a multibillion-dollar Midwestern bank. At the time of its closure, the bank was extremely concentrated in condominium construction and conversion loans with respect to projects located throughout the US.

Financial Services Compensation Scheme: Advising on the multibillion-pound rescues of depositors in the collapsed Icelandic banks Kaupthing Singer & Friedlander, Heritable, and Landsbank, and acting separately for the UK administrators of both Kaupthing and Heritable.

First American International Bank: Representing this lender in connection with its portfolio of defaulted loans, which are often secured by mortgages on property located in New York and New Jersey. Our representation includes workouts, foreclosures and assertion of rights in bankruptcy cases. We also advised the bank on regulatory inquiries it receives from regulators, and on the sale of commercial and residential loans.

First Merchant Acceptance Corp: These cases involved a sizable automobile financing company that offered subprime lending and had multiple outstanding securitizations. It was discovered during the course of the case that senior management had altered loan delinquency data, which had been removed from the company's books days before the bankruptcy filing. We assisted the debtors in securing approval of a financing plan proposed by the strategic bidder, and facilitated the transfer of the debtor's portfolio and servicing of the outstanding securitizations to preserve value of the assets. We also structured a joint prosecution strategy addressing the altered loan delinquency data. Plaintiff's class counsel obtained recovery from the former accountants and insurers on security fraud theories, agreeing to split a portion of that recovery with the estate and its creditors.

Northern Rock: Acting as independent advisers to the Board of Directors of Northern Rock Plc, the UK bank, in connection with all matters arising from the liquidity crisis affecting the Bank and its attempted restructuring prior to nationalisation by the UK Government.

Ownit Mortgage: Representing a servicer of mortgage loans to Ownit Mortgage, one of the first subprime mortgage originators to file for bankruptcy in connection with the completion of the servicer's obligations to service mortgage loans. Lawyers with our firm also represented a purchaser of whole loans from Ownit in connection with its US$68 million repurchase claims against the estate.

Parex Bank: Advising the international bank lenders to Parex Bank of Latvia, the largest bank in the country, in connection with the restructuring of the Parex indebtedness to those lenders under two syndicated loan agreements. We negotiated with both Parex, the Republic of Latvia, as Guarantor and their English legal advisers. This was the first restructuring of a European Union financial institution.

Russian letter of credit holder: Representing in connection with Jugobanka insolvent bank proceedings by New York Superintendent of Banks.

Swedbank: Representing in multiple International Swaps and Derivatives Association and foreign exchange transaction disputes with various Lehman Brothers entities, including an appeal of first impression from an order issued in the Lehman Brothers Holdings Inc. reorganization case. The bank asserted a right to setoff funds transferred into the debtor’s deposit account after the commencement of the reorganization case against the debtor’s pre-petition obligations to the bank under various financial contracts. On appeal, the bank sought determinations that the “safe harbor” provisions of the US Bankruptcy Code permitted the bank to exercise its setoff rights against the deposit notwithstanding any other Bankruptcy Code provision that Lehman argued would limit such rights.

Temirbank: Advised this Kazakh bank on the restructuring of its US$1.5 billion of debts, comprising international and domestic notes, trade finance and governmental debt and the issue of new equity, GDRs and new international notes. This was the second restructuring (the first being Alliance) to use the new Kazakhstan restructuring law.

Turkish Savings Deposit Insurance Fund: Representing of government bank savings deposit agency in connection with collapse of IMAR Bank arising from largest bank fraud in Turkish history with respect to controlled group liability enforcement in several countries and related litigation.

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